Bank OZK (NASDAQ:OZK) Rating Lowered to Market Perform at Raymond James

Bank OZK (NASDAQ:OZK) was downgraded by research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday, Marketbeat Ratings reports.

OZK has been the topic of several other research reports. Wells Fargo & Company cut their price target on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating on the stock in a report on Thursday, June 6th. StockNews.com upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Stephens reaffirmed an “equal weight” rating and set a $50.00 price objective on shares of Bank OZK in a research report on Thursday, July 18th. Truist Financial upped their price objective on Bank OZK from $41.00 to $49.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Finally, Citigroup cut shares of Bank OZK from a “buy” rating to a “sell” rating and dropped their price target for the stock from $57.00 to $37.00 in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.71.

Bank OZK Stock Up 1.2 %

Shares of NASDAQ:OZK opened at $42.61 on Tuesday. The firm has a fifty day moving average of $42.90 and a 200 day moving average of $43.16. Bank OZK has a 52-week low of $34.76 and a 52-week high of $52.36. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $4.83 billion, a PE ratio of 7.14 and a beta of 1.17.

Bank OZK (NASDAQ:OZK) last released its earnings results on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. The company had revenue of $416.78 million for the quarter, compared to analyst estimates of $414.39 million. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.47 EPS. As a group, research analysts anticipate that Bank OZK will post 6.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Bank OZK

A number of institutional investors have recently added to or reduced their stakes in the stock. PSI Advisors LLC boosted its position in shares of Bank OZK by 20,933.3% during the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after buying an additional 628 shares during the period. LRI Investments LLC purchased a new stake in Bank OZK during the 1st quarter worth about $29,000. Principal Securities Inc. purchased a new stake in shares of Bank OZK during the 4th quarter worth approximately $31,000. Versant Capital Management Inc grew its holdings in shares of Bank OZK by 423.0% during the second quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock worth $40,000 after purchasing an additional 791 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in Bank OZK during the second quarter worth approximately $46,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

About Bank OZK

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.